10-24-2020, 11:05 AM
Thanks Deano---I received some further info. regarding the ALCO/MLW arrangement:
[color=var(--primary-text)]Michael Patey[/color]
[color=var(--primary-text)]Not exactly, MLW was owned by ALCO. It was purchased in 1901. In later years ALCo sold shares of MLW off to others but still maintained a stake. When Worthington purchased ALCO in the 60's they also picked up the shares in MLW and increased its ownership in MLW. When ALCO shut down in 1969 Worthington kept MLW going due to its strong sales in Canada plus GE was no sales threat here yet. However when sales started to decrease against GMD, Worthington sold it off to Bombardier.[/color]
[color=var(--primary-text)]Michael Patey[/color]
[color=var(--primary-text)]Not exactly, MLW was owned by ALCO. It was purchased in 1901. In later years ALCo sold shares of MLW off to others but still maintained a stake. When Worthington purchased ALCO in the 60's they also picked up the shares in MLW and increased its ownership in MLW. When ALCO shut down in 1969 Worthington kept MLW going due to its strong sales in Canada plus GE was no sales threat here yet. However when sales started to decrease against GMD, Worthington sold it off to Bombardier.[/color]